On my visit to their model home in Heights in Oct 2014 I was proposed by Squarestone Homes to build a home.Based on their initial proposal of $200000 investment 20% of the project of one million they assigned me a sale contract of the house which they already had under contract with $5000 earnest money and hooked me up with Proffered Bank for financing.On application for financing, bank warned about the time constraint for closing property on time and advised us extension of the contract which Squarestone Homes failed to get it approved and I end up Paying $460,000 out of my pocket to close the property.
After acquiring the land the first step was to get the Architectural done, they advised me to go with his Architect as they offer better price and they can get the complete job done for me for $7000 fee ,I decided to do so,now after I got through the demolition of the old house and other necessary things done with additional $20000 of expense they ask me to sign a construction contract with them and pay them $54000 in advance in order for them to start construction which was never discussed or disclosed by them plus the contract is completely unbalanced and builder friendly with no owners rights which is unacceptable and on the other end on their advice I requested bank to extend the initial approved loan of $540000 to $600000 so I can pay them $54000 to begin construction but bank declined the request and denied the loan due to the fact that its against their policy to pay any one before the work is completed. Because of Squarestone Homes deceptive trade practice that they knew to begin with about Bank"s payment schedule for construction loans and they failed to disclose that they require 10% advance payment to begin work I decided not to construct with them therefore I asked them to release the Architectural plans or refund the amount they have collected from me against the plans but they refused to release the plans or refund me the amount, which is totally unfair and deceptive trade practice.
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Smith JohnsonBorn in Caledonia Minnesota is a land acquisition manager in Pro Garden. He is working in the company from the last 12 years. He is a dedicated manager and keeps his client’s projects on priority. His skills in land acquisition has made him a famous personality in his city. Archives
February 2015
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